Federal Agencies
U.S. Department of the Treasury
Preliminary Annual Report on U.S. Holdings of Foreign Securities at Year-End 2022
August 31, 2023
The U.S. Department of the Treasury posted the preliminary data from an annual survey of U.S. portfolio holdings of foreign securities at year-end 2022.
Federal Reserve Board
Working Paper: Are Real Assets Owners Less Averse to Inflation? Evidence from Consumer Sentiments and Inflation Expectations
August 31, 2023
The Federal Reserve Board published a working paper entitled, "Are Real Assets Owners Less Averse to Inflation? Evidence from Consumer Sentiments and Inflation Expectations."
Federal Reserve Bank of Boston
Remarks: Creating An Economy That Works for All
August 31, 2023
Federal Reserve Bank of Boston President & CEO Susan M. Collins gave remarks at Bunker Hill Community College's 2023 Convocation entitled, "Creating An Economy That Works for All."
Federal Financial Institutions Examination Council
FinCEN Hosts Public-Private Dialogue on Countering the DPRK's Illicit Cyber Activities
August 31, 2023
The Financial Crimes Enforcement Network (FinCEN) hosted a FinCEN Exchange last week focused on countering the abuse of the digital ecosystem by the Democratic People's Republic of Korea.
FINRA
Cybersecurity Alert: FINRA Notifies Member Firms of Joint CISA & FBI Cybersecurity Advisory
August 31, 2023
FINRA issued a cybersecurity alert notifying member firms of joint CISA & FBI Cybersecurity Advisory about the disruption of Qakbot, a ransomware protocol infecting over 700,000 computers, and the resulting seizure of over $8.6 million of crypto assets extorted from victims.
Federal Housing Finance Agency
Blog: Homeowners' Equity Remains High
August 31, 2023
The Federal Housing Finance Agency published a blog post entitled, "Homeowners' Equity Remains High."
International
Bank of England
Speech: Recent developments in UK monetary policy
August 31, 2023
Bank of England Chief Economist Hew Pill gave a speech at the South African Reserve Bank Biennial Conference entitled, "Recent developments in UK monetary policy."
Minutes of the CBDC Technology Forum - July 2023
August 31, 2023
The Bank of England released the minutes of the CBDC Technology Forum meeting held July 26, 2023.
Credit union quarterly statistics - 2023 Q1
August 31, 2023
The Bank of England released the credit union quarterly statistics for Q1 2023.
Administration Changes
Vacancies
Board of Governors of the Federal Reserve System
- Vice Chair – Vacant (Vice Chair Leal Brainard resigned effective on or around February 20, 2023)
Office of the Comptroller of the Currency
- Comptroller – Vacant (Michael Hsu serves as Acting Comptroller)
Appointments/Confirmation Hearings
U.S. Department of the Treasury – Janet Yellen (effective January 26, 2021)
Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)
- Vice Chair Phillip N Jefferson (nominated May 12, 2023)
- Vice Chair for Supervision Michael Barr (sworn in July 19, 2022)
- Governor Michelle W. Bowman (sworn in November 26, 2018)
- Governor Christopher J. Waller (sworn in December 18, 2020)
- Governor Lisa D. Cook (sworn in May 23, 2022)
- Governor Adriana Kugler (nominated May 12, 2023)
Federal Reserve Bank of New York – John C. Williams (effective June 18, 2018)
Federal Reserve Bank of Boston – Susan M. Collins (effective July 1, 2022)
Federal Deposit Insurance Corporation – Martin Gruenberg (effective January 5, 2023)
- Vice Chairman Travis Hill (sworn in January 5, 2023)
- Director Jonathan McKernan (sworn in January 5, 2023)
- Director Michael Hsu (Acting Comptroller of the Currency)
- Director Rohit Chopra (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Michael Hsu (acting Comptroller, effective May 10, 2021)
Securities and Exchange Commission – Gary Gensler (effective April 17, 2021)
Commodity Futures Trading Commission – Rostin Behnam (effective December 17, 2021)
Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)
National Credit Union Administration – Todd M. Harper (effective January 20, 2021)
Small Business Administration – Isabella Casillas Guzman (effective March 16, 2021)
U.S. Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021)
Federal Housing Finance Agency – Sandra L. Thompson (effective June 22, 2022)
U.S. Department of Education – Dr. Miguel Cardona (effective March 2, 2021)
Financial Crimes Enforcement Network – Andrea Gacki (effective July 13, 2023)
PH Client Alerts
Click here to read more from our Coronavirus series.
Legislation/Legislative Updates
Click here to view the full text of the Coronavirus Aid, Relief and Economic Security Act (the "CARES Act"), Enacted March 27, 2020.
Click here to view the full text of the Paycheck Protection Program Increase Act of 2020, Enacted April 24, 2020.
Click here to view the full text of the Paycheck Protection Program Flexibility Act of 2020, Enacted June 5, 2020.
Click here to view the full text of the Consolidated Appropriations Act, 2021, Enacted December 27, 2020.
Click here to view the full text of the American Rescue Plan of 2021, Enacted March 11, 2021.
Click here to view the full text of the PPP Extension Act of 2021, Enacted March 30, 2021.
Click here to view a running list of proposed legislation from the Senate Committee on Banking, Housing, and Urban Affairs, Senate Committee on Small Business and Entrepreneurship, House Committee on Financial Services, and House Committee on Small Business.
